- How The Fed’s 2008 Mortgage Experiment Fueled Today’s Housing Crisis
Authored by Alex Pollock abd Paul Kupiec via The Mises Institute, How should Congress assess the Federal Reserve’s track record as an investor in residential mortgage-backed securities (MBS)? Regardless of Fed spin, it merits a failing grade. The Fed’s COVID-era intervention in the mortgage markets fueled the second real estate bubble of the 21st century. […]
- “This Is The Sharpest Turn In The Housing Market Since The 2008 Crash” As Mortgage Rates Soar Above 6%
And the hits just keep on coming for the US housing sector. Three months after hitting the highest level in 14 years, on Thursday mortgage rates hit a fresh post-financial crisis high when they topped 6%, a jolt to home buyers who last year were paying less than half that. The latest mortgage lender survey […]
- “The Damage Could Be Huge”: Chinese Banks Tumble, Swept Up In Mortgage Nonpayment Scandal As Borrowers Revolt
On Friday, shares of China’s banks extended their slide to a two-year low amid fears widespread mortgage non-payments would spark contagion within the banking sector (see “China On Verge Of Violent Debt Jubilee As “Disgruntled” Homebuyers Refuse To Pay Their Mortgages“) even after the local banking and insurance regulator said it will maintain continuity and […]
- Housing Affordability Hits Record Low As Mortgage Rates Soar To 6.1%
Back in March, when the average mortgage rate was still “only” 4.5%, we anticipated the coming rate explosion and warned that “Housing Affordability Is About To Crash The Most On Record.” Fast forward to today when the latest 30Y average mortgage has just surged to a stunning 6.13% from 3.25% at the start of the […]
- Loan Demand For Mortgage Loans Crashes To Depression Levels
In all the chaos over the past few days, we missed the release of the Fed’s latest Senior Loan Officer Survey which came out Monday. The results were striking: as one would expect from an economy in recession (and in some cases, depression), in nearly all categories, banks are reporting both tighter lending standards and […]
- Beijing Cracks: Mortgage Boycott Prompts China To Launch Multi-Billion Property Rescue Fund
With Chinese property sentiment sinking from bad to worse amid the growing mortgage boycott – which for now remains contained affecting about 1%-2% of China’s $5.8 trillion in mortgages. but spreading rapidly – and Goldman observing over the weekend that over 70% of Chinese property junk bonds (as there are virtually no investment grade bonds […]
- Home Showings Across US Plunge 24%, Mortgage Rates Remain Elevated
Authored by Naveen Anthrapully via The Epoch Times, Home showings across the United States have fallen, according to a report by the National Association of Realtors (NAR), with all four regions registering a decline. Home showings—when a potential buyer takes a private home tour with an agent—were down by 24 percent year-on-year in May, with […]
- ‘Flippers’ F**ked As Mortgage Rates More Than Double In 10 Months
Authored by Mike Shedlock via MishTalk.com, Home flippers are under increased stress as prices decline and transaction volume plummets… Mortgage rate chart courtesy of Mortgage News Daily, annotations by Mish. Death of Deals Puts Stress on Flippers Since the beginning of the year, mortgage rates have gone from 3.35 percent to 7.30 percent. Prices have […]
- Rescue-Fund Idea Floated To Stop Mortgage Crisis
By George Lei, Bloomberg Markets Live reporter and analyst The Chinese stock market suffered its biggest weekly loss in three months, with the benchmark CSI 300 index sinking more than 4%. Real estate and banking risks soured sentiment and surging Covid cases made matters worse. Last week, housing ministry officials met with financial regulators and major Chinese banks to discuss lending matters. The […]
- JPMorgan Fires Hundreds Of Mortgage Bankers As Housing Market Breaks
Late last week we warned that according to real-time indicators, such as soaring mortgage rates and collapsing demand, a housing market crash appeared inevitable. Today we got the clearest sign that the banks agree when out of the blue – or rather out of the “hurricane” – JPMorgan announced it was cutting over a thousand […]
Latest Hacked Sites
- Sundry Files - 274,461 breached accounts March 31, 2023In January 2022, the now defunct file upload service Sundry Files suffered a data breach that exposed 274k unique email addresses. The data also included usernames, IP addresses and passwords stored as salted SHA-256 hashes.
- Leaked Reality - 114,907 breached accounts March 31, 2023In January 2022, the now defunct uncensored video website Leaked Reality suffered a data breach that exposed 115k unique email addresses. The data also included usernames, IP addresses and passwords stored as either MD5 or phpass hashes.
- TheGradCafe - 310,975 breached accounts March 24, 2023In February 2023, the grad school admissions search website TheGradCafe suffered a data breach that disclosed the personal records of 310k users. The data included email addresses, names and usernames, genders, geographic locations and passwords stored as bcrypt hashes. Some records also included physical address, phone number and date of birth. TheGradCafe did not respond […]
- Shopper+ - 878,290 breached accounts March 11, 2023In March 2023, "Canada's online shopping mall" Shopper+ disclosed a data breach discovered on a public hacking forum. The breach dated back to September 2020 and included 878k customer records with email and physical addresses, names, phone numbers and in some cases, genders and dates of birth.
- HDB Financial Services - 1,658,750 breached accounts March 11, 2023In March 2023, the Indian non-bank lending unit HDB Financial Services suffered a data breach that disclosed over 70M customer records. Containing 1.6M unique email addresses, the breach also disclosed names, dates of birth, phone numbers, genders, post codes and loan information belonging to the customers.
- Eye4Fraud - 16,000,591 breached accounts March 6, 2023In February 2023, data alleged to have been taken from the fraud protection service Eye4Fraud was listed for sale on a popular hacking forum. Spanning tens of millions of rows with 16M unique email addresses, the data was spread across 147 tables totalling 65GB and included both direct users of the service and what appears […]
- iD Tech - 415,121 breached accounts March 6, 2023In February 2023, the tech camps for kids service iD Tech had almost 1M records posted to a popular hacking forum. The data included 415k unique email addresses, names, dates of birth and plain text passwords which appear to have been breached in the previous month. iD Tech did not respond to multiple attempts to […]
- LBB - 39,288 breached accounts March 5, 2023In August 2022, customer data of the Indian shopping site "LBB" (Little Black Book) was posted to a popular hacking forum. The data contained over 3M records with 39k unique email addresses alongside IP and physical addresses, names and device information with the most recent data dating back to early 2019. LBB advised they believe […]
- GunAuction.com - 565,470 breached accounts March 2, 2023In December 2022, the online firearms auction website GunAuction.com suffered a data breach which was later discovered left unprotected on the hacker's server. The data included over 565k user records with extensive personal data including email, IP and physical addresses, names, phone numbers, genders, years of birth, credit card type and passwords stored in plain […]
- Convex - 150,129 breached accounts February 26, 2023In February 2023, the Russian telecommunications provider Convex was hacked by "Anonymous" who subsequently released 128GB of data publicly, alleging it revealed illegal government surveillance. The leaked data contained 150k unique email, IP and physical addresses, names and phone numbers.
NY Times
- Inside the Tent Camp Housing Thousands of Migrant Children – ‘No Place for a Child’
Migrant children and families are sleeping shoulder to shoulder on mats in a Texas border facility designed for 250 people that is now holding more than 4,100, according to some of the first photographs to emerge from the crowded camp that has become a focal point of the Biden administration’s struggles to absorb thousands of […]
- Atl Suspect’s Fixation on Sex Is Familiar Thorn for Evangelicals
“Sex addiction” is not an established psychiatric diagnosis, and there is a debate in the mental health community about how to define and treat compulsive sexual behavior. “There’s no evidence-based treatment for sex addiction,” said Joshua Grubbs, an assistant professor of psychology at Bowling Green State University and a clinical psychologist. Evangelical sex addiction treatment […]
- Tom Cotton Mocks Social Justice Warriors at New York Times in CPAC Speech
Sen. Tom Cotton (R-AR) on Friday mocked “social justice warriors” at the New York Times and their “meltdown” this summer over his op-ed in the paper calling for troops to restore order during the rioting at the time. Speaking on the first day of the Conservative Political Action Committee (CPAC) in Orlando, Florida, Cotton recalled how hundreds […]
- Congress Clears 2-Day Spending Extension to Finalize Stimulus Deal
Negotiators worked into Friday night to put the finishing touches on key details of the stimulus compromise, continuing negotiations on how long unemployment benefits should last, how to distribute federal relief for small businesses and the extension of a federal eviction moratorium. The plan was expected to revive the Paycheck Protection Program, a loan program […]
- SACRAMENTO Unemployment Scam Using Inmates Names Costing California Hundreds of Millions
SACRAMENTO — A rash of fraudulent pandemic unemployment claims filed under the names of jail and prison inmates, including more than 100 on death row, has bilked California out of hundreds of millions of dollars, a law enforcement task force said Tuesday. In a letter to Gov. Gavin Newsom, the task force, led by district […]
- Politics, Science and the Remarkable Race for a Corona Vaccine
WASHINGTON — The call was tense, the message discouraging. Moncef Slaoui, the head of the Trump administration’s effort to quickly produce a vaccine for the coronavirus, was on the phone at 6 p.m. on Aug. 25 to tell the upstart biotech firm Moderna that it had to slow the final stage of testing its vaccine […]
- Newsom Do as I Say, Not as I Dine Coronavirus Message
SAN FRANCISCO — It was an intimate meal in a wood-paneled, private dining room in one of California’s most exclusive restaurants. No one around the table wore masks, not the lobbyists, not even the governor. [Sign up for California Today, our daily newsletter from the Golden State.] Photos that surfaced this week of a dinner […]
Washington Post
- Donald Trump Shreds ‘Fake News Media’ in Series of Videos: ‘Not Reporting with Credibility Has Its Consequences’
Former President Donald Trump shredded the New York Times, the Washington Post, CNN, and MSNBC as “fake news media” in a series of videos shared to his Truth Social account and his campaign’s war room Twitter account on Wednesday. “The fake news media like CNN, MSDNC – which is sometimes referred to as MSNBC –the […]
- Media Ignore Physical Attack on Republican Gen. Don Bolduc
The establishment media have ignored the physical attack against Republican New Hampshire candidate Gen. Don Bolduc. The three top establishment newspapers, the New York Times, Washington Post, and Los Angeles Times, all failed to report the physical attack on Gen. Bolduc that occurred moments before Wednesday’s debate with Democrat Maggie Hassan (D-NH). The media’s decision […]
- Sex Offender Thanks Ketanji Brown Jackson for Three-Month Prison Sentence: ‘She Knew This Was Going to Hold Me Back … So She Didn’t Really Want to Add on to That’
The registered sex offender who was given three months in prison by Judge Ketanji Brown Jackson, nominated for the Supreme Court by President Joe Biden, is speaking out and seemingly thanking the judge for her lenient sentence in his case. In 2013, Jackson sentenced then-19-year-old Wesley Hawkins to three months in prison, three months of […]
- 15 Media Personalities Claimed Hunter’s Laptop Emails Were Likely Russian Propaganda Before New York Times Admitted
Fifteen establishment media personalities claimed Hunter Biden’s laptop emails were likely Russian propaganda before the New York Times admitted it Wednesday. After nearly two years of dismissing Hunter’s tantalizing emails uncovered before the 2020 presidential election, the Times admitted the laptop was authentic, in direct contradiction of many in the Democrat-allied media. The media personalities seemingly went […]
- Covington Teen Nicholas Sandmann Settles $275 Million Defamation Lawsuit with NBC
Covington Catholic High School student Nicholas Sandmann announced Friday that he settled a $275 million defamation lawsuit against NBC. Neither party publicized the terms of the settlement. However, Sandmann asked for $275 million in damages in his lawsuit against NBC Universal and MSNBC. “At this time I would like to release that NBC and I […]
- Washington Post Columnist Calls on CNN to Correct Its Dossier Reporting — After WaPo Corrects Its Own
A Washington Post columnist criticized CNN for not correcting its reporting that the dossier put together by Fusion GPS and ex-British spy Christopher Steele — which claimed the Trump campaign was colluding with Russia — was “corroborated.” The paper’s media critic, Erik Wemple, wrote Friday that CNN hosts and reporters had long-claimed the Steele dossier had […]
- Washington Post ‘Forced to Admit They Lied’ After Pretending ‘F*ck Joe Biden’ Chant Was ‘Let’s Go, Brandon’
The Washington Post, the leftist legacy media outlet whose motto is “Democracy Dies in Darkness,” admitted to publishing fake news about the public’s discontent with floundering President Joe Biden. During a September speech by Donald Trump Jr. in Georgia, the crowd broke into a “F*ck Joe Biden” chant at the prompting of the former president’s […]
